In an exclusive interview with a leading technology blog, Shahid Maqsood, WorldCall’s Chief Business Operating Officer, shared the vision for their company in 2022. The company will formally begin its ride-hailing services in the first quarter of next calendar year.
WorldCall’s ride-hailing division, dubbed “Ride Hail,” has been in the works for about five years, with the core team developing in the last two or three years, according to Shahid. The company, on the other hand, has only recently completed its feasibility report, which has yielded promising results.
“Ride Hail…on the lines of Uber/Careem with initial market research carried out, feasibility study promising results, and increased driver experience,” according to WorldCall’s annual report’s section on new ventures.
“We will seek to fill the voids left by Careem, Uber, and other ride-hailing services,” Shahid stated. We will only [accept] captains and automobiles after extensive vetting, and the procedure will be merit-based.”
He didn’t reveal any financial or marketing intentions for the project, but he did say it would be released commercially in a few months. He stated, “We will start from Lahore, Islamabad, and Karachi.”
Every few months, WorldCall makes headlines due to a potential takeover. The company’s stock price rises temporarily as a result, but no actual control or management changes hands. “It depends on the sponsors on when they will formally take control,” Shahid stated when asked about the future of Ride Hail in the event of a change in ownership. “However, even if the company’s ownership changes hands, the core crew of Ride Hail is likely to remain intact. We still have a few months until we can officially launch this service, and by then, we may have some sponsors on board.”
WTL’s stock finished at Rs. 3.84 on the exchange, up Rs. 0.28 or 7.87 percent, with a turnover of 127.88 million rupees.
For the fiscal year ending December 2020, WolrdCall lost over Rs. 146 million. Despite the contraction, the company intends to move forward with fresh ideas, according to Shahid. “The fundamental reason for our demise was the technology that we used,” he said. We had Fiber to the Home (FTTH) in our network before, but we have now switched totally to it. In Lahore, we have already upgraded 15,000 connections to FTTH, with the figure expected to rise to 40,000-50,000 in the next two months.”